118 E 2nd St
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118 E 2nd St
5,220 SF Office Building Miller, SD 57362 $550,000 ($105/SF) 11.40% Cap Rate
Investment Highlights
- Large, overflow parking lot fronts N. Broadway (aka Main Street).
- Quick Sale Price: $400,000 with 14.3% cap rate.
- Concrete block construction.
- All property viewings must be through Broker with at least 2 days notice.
Executive Summary
Freestanding office property located one block east of N. Broadway in central business district Miller, SD is a county seat town Area neighbors include Hand County Hospital, Miller Schools K-12, Quion Bank, American Bank and Trust, Runnings, Kesslers Grocery. Current Tenant – Government agency for over 48 years with 2 years remaining at $95,000 +/- per year gross, negotiations ongoing for new lease. Historical expense ratio: 40%. Lease and financials upon request.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
5,220 SF
Building Class
B
Year Built
1976
Price
$550,000
Price Per SF
$105
Cap Rate
11.40%
NOI
$62,700
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,220 SF
Building FAR
0.50
Lot Size
0.24 AC
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PROPERTY TAXES
| Parcel Number | 8020 | Improvements Assessment | $188,260 |
| Land Assessment | $14,586 | Total Assessment | $202,846 |
PROPERTY TAXES
Parcel Number
8020
Land Assessment
$14,586
Improvements Assessment
$188,260
Total Assessment
$202,846
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118 E 2nd St
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